Peyto Exploration & Development Corp T.PEY

Alternate Symbol(s): PEYUF

Energy Oil & Gas E&P

Peyto Exploration & Development Corp. is a Canadian energy company involved in the development and production of natural gas, oil and natural gas liquids in Alberta's deep basin. The Alberta Deep Basin is a geologic setting situated on the northeastern front of the Rocky Mountain belt in the deepest part of the Alberta sedimentary basin. It acquired Repsol Canada Energy Partnership (Repsol Assets), which included around 23,000 barrels of oil equivalent per day of low-decline production and 455,000 net acres of mineral land. The acquisition includes five operated natural gas plants with combined net natural gas processing capacity of around 400 million cubic feet per day, 2,200 kilometers (km) of operated pipelines, and a 12 MW cogeneration power plant. These assets include Edson Gas Plant and the Central Foothills Gas Gathering System. The Company has a total proved plus probable reserves of approximately 7.8 trillion cubic feet equivalent (1.3 billion barrels of oil equivalent).

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Peyto Exploration & Development Corp > Good Luck to All Longs

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Comment by DeanEdmontonon Aug 31, 2024 11:02am

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Post# 36203951

RE:RE:RE:Good Luck to All Longs

These posts go back to mid June 2024. Interesting that Peyto is still trading in its same range, while TRP, PPL, RY are up a lot. TD, BCE and Telus are still trading sideways like Peyto. The rotation into some of the companies that pay large dividends is taking a lot longer than I had expected.

DeanEdmonton wrote: houbahop - Actually, there are quite a few options. FRU, BCE, Telus, TD and TRP to name just a few. All pay very good, sustainable dividends, and all of them seem to have quite a bit more depressed share price than Peyto. I will give up a percent of dividend for what seems to me to be a solid 10 to 20% share price appreciation over the next while.
houbahop wrote: Nice ride Dean.

But where can you find a relatively safe 9% dividend with the cash from your sale?

I expect PEY to trade in the $13-$16 range for the rest of the year. The high dividend and debt level would put a cap on share price appreciation. As long as the Natgas market trades with a strong Contango, Peyto can roll their hedging program at prices that would extend the certainty of future CF and dividends.

If Mr. Market could bring PEY around $13-$13.25, I certainly would make use of the accumulating dividends in my account.